Payment Giants Launch Open USD Stablecoin to Kill Conversion Fees
By PYMNTS
AI summary of the source article
Open Standard has officially launched Open USD (OUSD), a stablecoin designed to eliminate variable conversion fees between fiat and digital currency. Businesses can access OUSD through four integration paths, including Stripe, Coinbase, Mastercard, and Visa, all offering free 1:1 mint and burn functionality. Stripe announced that developers can now integrate OUSD into fintech products using its APIs, Bridge orchestration, Privy embedded wallets, and Stripe Issuing. Additionally, companies using Stripe Treasury can hold OUSD balances, fund accounts, and send funds to crypto wallets across more than 100 countries. Instead of charging fiat conversion fees, Open Standard charges a small, predictable transaction fee.
Why it matters
OUSD provides businesses an alternative to stablecoins that incur variable conversion fees by offering cost-free 1:1 dollar conversion paired with predictable transaction fees.
Key facts
- Open USD offers four integration paths for businesses: Stripe, Coinbase, Mastercard, and Visa.
- All integration paths support mint and burn functionality at a 1:1 USD conversion rate at no cost.
- Plasma provides the underlying blockchain infrastructure enabling instant money movement for OUSD.